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Dec 31, 2025
Marinemax Q1 2026 Earnings Report
MarineMax reported its fiscal 2026 first quarter results, with revenue increasing by 7.8% to $505.2 million, driven by strong same-store sales growth despite a challenging retail environment and persistent margin pressure.
Key Takeaways
MarineMax, Inc. announced its fiscal 2026 first quarter results, with revenue reaching $505.2 million, a 7.8% increase from the prior year. The company achieved over 10% same-store sales growth and a gross profit margin of 31.8%. Despite retail margin pressure and elevated promotional activity, MarineMax significantly reduced inventory and strengthened its balance sheet, reaffirming its full-year fiscal 2026 guidance.
Achieved first quarter revenue of $505.2 million, an increase of 7.8% year-over-year.
Reported a gross profit margin of 31.8%, supported by strategic expansion into higher-margin businesses.
Quarterly same-store sales grew more than 10% despite a challenging retail environment.
Significantly reduced inventories by $167.3 million from the prior year, strengthening liquidity and the balance sheet.
Revenue by Segment
Forward Guidance
MarineMax reaffirms its fiscal 2026 guidance, expecting Adjusted EBITDA between $110 million and $125 million, and adjusted net income per diluted share between $0.40 and $0.95. The company anticipates a gradual improvement in the recreational marine industry as it moves into the spring selling season, with encouraging early indications from retail boat shows.
Positive Outlook
- Anticipated normalization of industry inventory levels through the second half of the fiscal year.
- Positioning at the premium end of the market is expected to support gradual improvement in margin performance.
- Expectation of gradual improvement in recreational marine industry activity moving into the spring selling season.
- Early encouraging indications from this year's retail boat shows.
- Company's positioning in the premium segment should enable it to outperform the broader market as conditions improve.
Challenges Ahead
- Retail margin pressure persisted across the recreational boating industry in the December quarter.
- Continued uncertainty and competitive dynamics, including elevated promotional activity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
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Avg. Return Before/After Earnings
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